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Search Results 0 to 44 of about 45 (some duplicates have been removed)
, mrs. obama joined her husband to wish a merry christmas. >> after a decade of war, our heroes are coming home. across america, military families are reunited. let's give thanks for our men and women and let's give a special prayer to those in afghanistan, risking their lives. >> this is the fifth first family christmas in hawaii since president obama was elected. >>> bringing holiday cheer to people who need it the most. >> and you heard of 3d tv but how about 3d printer? how one group is using the device to create weapons at home.  >>> this is the kind of story we love to tell during the holiday season. paying it forward to people who could use a little bit of help. >> that's what happened to a virginia student who is working as a waitress to pay for the holiday season. >> here is what happened during one of her shift. >> reporter: they came, they aid and they tip bombed. what's a tip bomb? it's a surprisingly huge tip for a waitress. >> i was shocked. >> reporter: and he is not even the waiters. he is the first one to tell you that servers earn thei
to rename this ira the kay bailey hutchison spousal ira in her honor, and i hope, mr. president, we can join together and honor senator hutchison by getting that done before we close out our business this year. kay, of course, has always championed the state sales tax deduction, which may not seem like a big deal to others in this carriage carriages but it . but it is a big deal in texas. we don't have a state income tax. but we do pay a state sales tax. and of course kay has also worked to reduce the marriage penalty tax. she's been a strong defender of taxpayer interests and her efforts have made the tax code less hostile to saving and to families. she alluded to her great work with nasa. she's one of the senate's leading supporters of nasa and human space flight, and of course gnaws i nasa has contribd historic technological breakthroughs that have benefited all americans. kay appreciated the importance of basic scientific research to long-term american prosperity and she appreciates the role that nasa has played in fostering innovation. she's long said and advocated for support for nasa
grateful we have been such strong allies. >> reporter: but in private, there was tension. reagan urged her to negotiate, but she wanted victory. mrs. thatcher said she was sure that the president would act in the same way if alaska had been threatened. to get what she wanted, the iron lady used her softer side. >> dear ron, she writes. i think you are the only person who will understand the significance of what i'm trying to say. >> very personal. >> absolutely. >> reporter: mrs. thatcher's charm offensive did the trick and they remained friends long after they left power. duncan golestani, nbc news, london. >>> and up next, going home to see your parents. in one place it's now the law. . it's now the law. . and one plac it's now the law. and one place . . . and songwriting is so hard, but i love it. these days, i guess i just don't want to miss a thing. [ laughs ] i miss you guys. that's me. and this is my windows phone. [ male announcer ] new windows phone. reinvented around you. ♪ reinvented around you. to the best vacation sp(all) the gulf! it doesn't matter which of our great states
greatly. they are senator kay bailey hutchison and senator scout brown. mr. president, in her marvelous book entitled "american heroines: the spirited women who shaped our country," senator kay bailey hutchison wrote the following: "no history can be written appropriately without acknowledging the part women have played in building the greatness of our country. end quote. as my valued colleague and good friend begins a new chapter in her life, i hope that she finds the time to add a new chapter to her own book, one that will be fascinating, inspiring, and auto biographical. like the women that kay celebrates, says an author from amelia earheart, from sally barton to condoleezza rice, kay bailey hutchison is a pioneer, a breaker of barriers. in the special election of 1993, the people of texas made her the first woman to represent them in the united states senate. in the three regular elections since then, they have confirmed their trust in her by ever increasing margins. as the leader of the senate commerce committee, kay has been a strong voice for transportation systems, better, effic
asking her to commit for events for 2013. the state department has literally said no to everyone. her aides have said don't even try. come back to us next year. she needs time to rest and relax. now, mrs. clinton in interviews has joked about putting her feet up and watching reality tv. but, in fact, she has a more serious set of questions to contemplate. because there is the simple matter of what do you do all day if you're hillary clinton and you don't suddenly have a huge important job to do. she wants to do things like write books. she wants to work on behalf of women and girls. she wants to start to enjoy her life. but the trouble is that it is very hard to make those smaller decisions like what sort of book to write until she makes the big one. because if she's going to run for president, she has to write a very careful book. sort of setting out that possibility. if she wasn't going to run, we could finally read the hillary clinton has seen it all book that some day she might like to write. >> nothing that could be used against her. a new george washington university/politico ba
. the presiding officer: the senator from mississippi. mr. cochran: mr. president, we wish to thank the distinguished manager of the bill for her courtesies and for her skill in managing this bill. her sensitivity to the need for improvements and sustaining the disaster assistance capabilities of our great country. thank you. mr. paul: mr. president? the presiding officer: the senator from kentucky. mr. paul: i ask unanimous consent to call up amendments 3376 and 3410 en bloc. the presiding officer: the clerk will report the amendments. the clerk: the senator from kentucky, mr. paul, proposes amendment numbered 3376 and 3410 en bloc. mr. paul: mr. president, when hurricane sandy struck, hundreds -- when hurricane sandy struck the northeast, hundreds of thousands, if not millions of people were without power. we all saw the video footage, we saw the terrible trauma and people are still trying to dig out from underneath the debris of hurricane sandy. during that period of time, hundreds of workers drove up from the south wanting to help. these workers were nonunionized and they were t
and the reserve the balance of my time. >> the gentleman from california. >> i agree with her completely, mr. speaker. it is very important that we do not let the sequestered to place. i hope and believe she is right that we will not see that happen. i would also like to associate myself with her remarks as it relates to ensuring that we do not go over the fiscal cliff. that is something that is very desired on our part as well. i would also like to respond to one. very quickly before a yield to my good friend from roseville. we would not be adjourned and the congress today and ending our work. i have said in the rules committee, mr. speaker, that we are going to continue with our work. the action that we're going to take as it relates to these two measures, again, the reconciliation package designed to ensure that as my friend from rochester said that we do as the sequestration, which we all know would be devastating. it is a package of $238 billion over a 10-year period of time that is a responsible measure measure that would not be gutting the programs but will begin tackling entitlements
the evidence prove? and frankly, her lawyer, mr. bill cherry, is one of the finest attorneys in ft. lauderdale. he has the right to investigate this matter. and while being in the netherlands by itself is an innocuous fact, why aren't they answering these questions? >> that's not true. >> the trail of evidence will lead him to the end result, and if it's innocuous and there really is no mr. aguilar living and alive today, come forward and answer these questions. why can't they tell us what's going on? maybe there's more to the story, and that's why they're not coming forward. but the bottom line is this needs to be investigated, and jamie, as a surviving wife, has the right to know what the truth is concerning her husband. harris: tad? >> well, the bottom line here is if they're hiding money, it's easy to follow a paper trail of money. and this situation is no different than any other paper trail. also how hard would it be to get an investigator in the netherlands to look around, follow the money trail and see if they see anything that doesn't look proper? the bottom line is the only thing tha
. when mr. potato head was courting the future mrs. potato head, did he send her a mash note? >> i'm sure he did. somewhere along the line, i'm sure he did. but you know what? that's between those two. >> reporter: in 1964, responding to parents' complaining about rotting potatoes, the two birds got plasticors sews which doubled in size ten years later. along the way, they collected a lot more accessories. how many different parts are there? >> there are 365 different parts for the potato head that we've got going on right now. >> reporter: no wonder he needs that tater tush compartment. yes, that's what it's called. according to mathematicians at columbia university, those hundreds of parts allow for over 500 billion, septillion possible configurations. >> no matter what generation it was, there was always something about his funny personality and kind of the mix and match parts aspect of it that appealed to everybody. >> i'm picasso. >> in 1995 this portly pair went hollywood, alongside woody and buzz light-year in the blockbuster film "toy story." >> oh, my he
to close. mr. sessions: i thank the gentlewoman for asking. i have no further speakers and would allow her that opportunity and then i will close. ms. slaughter: thank you very much. mr. speaker, we should be doing one thing today and that's passing the continuation of tax cuts for the middle class. the american people couldn't be more united in this support for tax cut and there is no reason for delay. the senate has already passed the bill and we can take up now, it's here at the desk. members across the aisle agree, that we must not let those middle class taxes go up. with such common ground why would the majority waste another minute before ensuring that the taxes will not go up on the middle class? the answer isn't clear to me. i can't fathom it. but if the majority won't take action, we will. mr. speaker, if we defeat the previous question, i'm going to offer an amendment to the rule that says two things. one, first we will pass the bill to extend the middle class tax cut. and second, that we will pass legislation that will avoid the fiscal cliff and the chaos that would ensue. and i
hillary clinton will be back at work next week. mrs. clinton has been recovering at home from aen concussion. an aide tells us she's looking forward to resuming her schedule. >>> we're going to turn this evening now to the nation's increasingly divisive gun control debate, just a day after we showed you this scene in los angeles. people lining up in their cars to participate in a one-day gun buy-back program. that etch fort brought in more than 2,000 firearms in exchange for gift certificates. but barely two weeks after the newtown, connecticut, school shootings, another debate heating up about whether to bring guns into schools. a new poll suggests 64% of americans think arming at least one school official would be at least some what effective. but what about arming the teachers? abc's cecilia vega tonight with some of those teachers who say yes. >> okay, so, now what do i do? >> reporter: the gun is fake, but these utah teachers fear the threat facing their classrooms is very real. today, 200 of those teachers became students -- >> ready to fire. >> reporter: packing a conferen
to change. jody canter wrote this in "the new york times," mrs. clinton may find that her freedom comes with one huge constraint. the more serious she is about 2016, the less she can do, no frank, seen it all memoir, no clients, commissions or controversial positions that could prove problematic. now, i'm one of the so called smart guys that david was talking about. i think she is going to run. i think she wants to be the first woman president of the united states. she's going to have to be cautious in what she does over the next year or two. >> any candidate has to be cautious. >> well, if she's never going to run for office again, she doesn't have to be cautious. >> she's well known. people know her across the board. there are a sizable number of republicans who like her. the reason why people like her is because they know she's a principled person. somebody who believes in human rights. equality of all people. she'd make a terrific president of the united states. i don't think she has to be confined by those limitations miss canter wrote in her article. >> the problems we face in 201
the house budget. passed not once but twice. provided real solutions. mr. speaker, here's our spending represented a different way, because there's so many head herrings in this body. i -- red herrings in this body. i want to say, mr. speaker, if you help me spread the word with my colleagues on the left. i'm on the rules committee. we often handle the rules debate here on the floor. it gets toxic from time to time. folks are trying to make their point. everybody's got their talking points. it turns out into an -- turns into an argument instead of a discussion how o to make america better. i do hope in this coming time, whether we use special order to do it, time off the floor to do it, we'll find an opportunity to have more of a discussion. because the facts are what the facts are. we ought to be able to agree on what the facts are, and then we ought to be able to disagree what about the solutions are. we ought to be able to question each other's judgment without questioning each other's motivations. i hope we'll be able to spend some time on that. i heard folks say, mr. speaker, oh,
that she took. i listened to her, and i believe that is the kind of leadership to help us continue down this path. >> thank you. senator? >> thank you. thank you for your testimony today mr. secretary. i know the senator asked about reverse mortgages. i am concerned about that issue. i am particularly concerned that $2.80 billion of the $16 billion economic shortfall are related. can you talk a little more about why these losses are so severe? >> here is the fundamental problem, without getting into too much detail. the loans were generally variable rate and allowed the borrower. there is basically no option for them to do anything but draw the full amount. >> why? >> we do not have the statutory authority to be able to make the changes to the program to allow us to limit the draw up front. that is the change we are asking to be made. our alternative, and i was just discussing this, we could basically eliminate or put a moratorium on our regular program, which is somewhat safer. the problem is we do not have that authority under that program to avoid the full-draw feature of it. the rig
tv. mr. rather, thank you for being here. >> i'm always honored to be here. >> susan rice withdrawing her name from consideration for secretary of state. this is not the most unforeseen thing in the world but it still leaves a lot of questions unanswered. what do you think is the most important thing that just happened or that we should watch for happening? >> the most important thing that just happened is that president obama has once again been backed down and away. let's make no mistake. this is chalk one up for the republicans. they can hopefully in private smile, even smirk, wink at one another. they have the professional scalp of susan rice now hanging on their door. they backed president obama down and away. president obama for whatever reasons, and i thought andrea mitchell, a lot of the potential reasons for, it chose not to fight it to the end. there will be any number of people, and not all of them democrats, who say this tells us something about president obama. he was not for a friend, a close friend, a long-time supporter, someone who was eminently qualified, rhodes scho
's no ground rules about the cell phone. but mrs. obama says, she never knows when i'm going to walk into her room and see what she's texting. parents are parents, no matter what. >> no question about it. we can't wait to see all of it tonight. thank you, barbara, on "20/20." christmas at the white house, at 10:00, 9:00 central, right here on abc. >>> now, let's go to sam for the weather. >> we're going to start with pictures out of san diego. just finished their wettest day in two years. getting an inch and a half in rain in san diego, doesn't sound like a lot to a lot of folks. but that's their monthly total for december. that's their average. three inches of rain around that san diego area. and it's one, two, three wet systems that move across the coastline, dropping down and moving across the country. that's the one that moved through yesterday. this is tonight's. and then there's another one that comes through by the time we get to saturday night. that puts a lot of moisture across the middle of the country for this weekend. we see the pattern continuing into net week. be ready for big h
. i have a lot of shopping to do. >> i know. i'm matt lauer along with savannah guthrie and mr. roker. and coming up, we'll meet a woman who is forced to put her survival skills to the test, stranded for nearly a week in a very rugged area, snow-covered terrain up near the nevada/california border. for her, it had a happy ending. tragic in other ways. we'll find out more about that. >> we all know about black friday, cyber monday. something thursday for thanksgiving. did you know it's green monday today? >> it is? >> yes, indeedy, the biggest shopping day for the month of december. you can get some good deals. we'll tell you about green monday and why it's such a big day and where to find some of the best deals, too. >>> one of the most popular musicals of all times and now a highly anticipated film, "les miserables" coming to a movie theater near you. the star-studded cast including hugh jackman and anne hathaway joining us live in studio. >> sasha baron cohen. 16 million people have seen that show on stage. >> no pressure. >> and they love it. >> they sang live to film on this. >> e
in philadelphia. her bulldog looks none too happy. thank you, sherry, for this picture. this is mr. rusty. >> that's glamorous. >> mr. rusty is doing a fashion spread there. i wonder if mr. rusty was a teen model, like you. >> oh. >> sam, do your best mr. rusty. >> i can't. no. meow. >> one more time. thank you. thank you, mr. rusty. >> that's all i got. >> and then, we have toby. can we see toby? oh, toby. he's wrapped in lights. i'm not sure how i feel about that. but the reindeer ears. >> the opinion down here, don't dress your pets. >> come on. >> it's a special person that dresses their pet. very, very special person. >> thank you, all. we thank you all for those photos and for your mr. rusty. >>> also, on this christmas edition of "pop news," what's the most comfortable way to celebrate christmas? here's a hint. they're red. they're green. and they're comfy all over. cue the tune. >> what is it? >> this is the new ditty out. ♪ you get some green sweats i get some red sweats ♪ ♪ we switch them up we have christmas sweats ♪ ♪ you get some red sweats i get some green sweats ♪ ♪ we
and audition in 1991 to play my wife in "mr. saturday night." she gave a fantastic greeting but she was a little too young. i called her agent and said she's not going to get the part but she's phenomenal. she's a great actress, so cute so beautiful. she's everything. >> yeah. >> so then when we said who could blake her, i said -- she comes into the same office that she auditioned for me and, yeah -- she said now? >> she said now am i too old? >> our scenes together are like father/daughter. >> i still remember you from "my cousin vinny." what was that iconic line. >> my biological clock. >> you know how to do comedy you now how to do drama. do you like dog one more than the other? >> i love doing comedy. i had the greatest time on the film. i love being with these guys and it affirmed for me this is what i want to do. i want to do comedies. comedies comedies. but sometimes, you know -- >> why did it take time from the time she walked in to i have a brilliantied. >> you are billy crystal. >> you reach a certain age where they don't terrorist you like they used t
in a book called the "friendly fire" about the death of her son a young army private. general schwartzkopf was the army commander and he was so human and approachable to mrs. mullen. it was impressive. clearly he was an impressive guy. tell us your thoughts and memories of general sworts co h schwartzkopf. >> he was an impressive guy. i he met him when i whe was a mr and i was a lieutenant. i had an unpleasant experience with him during which i was trying to exercise my authority and responsibility. he is a higher ranking guy telling me, no, i he wasn't going to do it. i lost. it was a fair fight, even though he's three times my size. he's a really tough guy. one of the interesting things about him that is unfortunately not practiced frequently in the military or anywhere else, by the way, is that he always led from the front sometimes recklessly, and the mistakes that we all make in combat from time to time and we've all made our share, him included, is that we have a tendency to miscalculate. we go left instead of right. we wait too long and don't wait long enough for ninformation. he m
to work next week. mrs. clinton has not been seen in public in about two weeks. she's been recuperating at home since suffering a concussion. it happened when she hit her heard during a fainting spell brought on by a stomach virus. >>> overseas now, the united states has temporarily shut down its embassy in the central african republic. rebels advance on the capital and the state department is warning americans to avoid the republic. u.s. citizens already there are told to leave and there are no plans to evacuate u.s. military personnel. >>> now to a terrifying scene for shoppers in friday. if you are afraid of sharks, you may not want to watch this video. this was an indoor tsunami. a huge shark tank burst, sending broken glass and water crashing into onlookers. more than a dozen people were injured. sadly, the sharks did not survive. >> who thought that was a good idea? >>> the economy could suffer a major blow next week if thousands of union dock workers make good on their threat to strike. a walkout would close every port from boston to houston. that means tons of goods would not be
learned a little bit about him, and i didn't like what i learned. and i asked her to not tell him that we'd ever met and not tell him anything about me. >> so mona goes to the coffee shop, meets this guy, mr. jandali, who's running it, who says, among other things when she asks, you know, how sorry he is. but then he says that he had had another child, and mona said, "what happened to him?" he said, "oh, i don't know, we'll never hear from him again." and then he says, "i wish you could have seen me when i was running a bigger restaurant. i used to run one of the best restaurants in silicon valley. everybody used to come there. even steve jobs used to eat there." and mona's sort of taken aback and bites her tongue and doesn't say, "steve jobs is your son." but she looks shocked, and he says, "yeah, he was a great tipper." >> and i was in that restaurant once or twice, and i remember meeting the owner, who was from syria, and it was most certainly him, and i shook his hand, and he shook my hand, and that's all. >> and jobs never spoke to him, never talked to him, never got in touch with hi
. i join with the entire senate family in wishing her and john the very best in the years ahead. mr. president, in these closing days of the 112th congress, the senate is saying farewell to again one of our most popular and respected members, senator jeff bingaman of new mexico. when jeff came to this body 30 years ago, he had already led a life of accomplishment created in small-town new mexico, silver city. he was an eagle scout, graduated from harvard college, stanford law school, where he met his future wife, ann. while at stanford, he worked in senator robert f. kennedy's campaign for president. at the age of 35, he was elected new mexico attorney general in 1978. and four years later at the age of 39, elected to the united states senate. during his three decades in this body, jeff bingaman has been a classic workhorse senator as opposed to being a show horse senator. he is truly remarkable and distinctive among senators for his willingness to shun the limelight and share the credit in order to get important things done for his state and for this country. senator bingaman has b
. they wrote books. >> they are in many cases quite frankly more interesting as human beings than her husband. if only because they are not first and foremost limited by political ambition. >> dolly was both a socially adept and politically savvy. >> dolly madison loved every minute of it. mrs. munro hated it. absolutely hated it spent she warned her husband. you know, you can't rule without including what women want and what women have to contribute spent during the statement he was a little breathless and it was too much looking that i think goes a little too fast. a change of pace. >> yes, ma'am. >> probably the most tragic of all of our first ladies, they never should have married. >> she later wrote in her memoir that she said i, myself, never made any decision. i only decided what was important, and went to resend it to my husband. >> you stop and think about how much power that is. it's a lot of power. >> prior to the battle against cancer is to fight the fear that accompanies the disease. >> she transform the way we look at these bugaboos, and made a possible for countless people to s
. and obviously she is not taking questions about it under oath up on capitol hill today. >> we heard her spokeswoman yesterday basically say, look you're going to hear from mr. nyds and from nicolas burns this morning and they are speaking on behalf of hillary clinton. should that be satisfactory? we understand that hillary clinton is going to testify in january. how different is the climate going to be in january in the middle of the inauguration and everything else, bret? >> right, i think there are senators up there who are concerned about that. they are senator kerry is saying that secretary clinton will testify in january. of course she won't be the secretary of state. and it may very well be senator kerry who is on his way to being secretary of state. we don't know that as of yet. but, remember, there will be a lot of turn over, there will be probably the inauguration underway, there will be nominations and a lot of things happening here that people may get a lot of different focus than benghazi. but, listen, we'll continue to cover it here. there are some information things that t
's something i think you'll see reflected in the work. >> i can tell you, i know mrs. o'malley. she's judge o'malley. she wouldn't care if you keep calling. i'll call her now and say are you in for the program. she'd say yes. in all seriousness, first of all, you are a creative administrator both of you are. so i won't prolong the generosity of the chair in having me participate here. but i -- it is my hope and my prayer for my community that's affected we would think the bridge during the hard time for individual families how we look at economic development. i would invite you as assessing what the governor submit if you could consider visiting us to lock at what this is so we cannot only respond we can also lay the groundwork for reform to be able to help our community that are hard hit and hard -- what are so terrific. >> thank you, senator. thanks very much. >> thank you so much for holding the hearing and the tremendous work on the critical issue. obviously i'm not from a state impacted by the hurricane or the one that impacted you. as an american we have to come together. we learn from
reagan was responsible, her tradition was celebrity santas. >> and nancy was about hollywood, bringing a little glitz to the white house and my favorite one was when mr. t came to the white house and pity the fool that year, santa for christmas and just funny photo, a phone moment in time and had larry hagman and one year her own husband, the president surprised her with santa. >> alisyn: great stuff. so barbara bush, what did she do. >> barbara bush had her cause of literacy, a story book christmas and took actual books on hung them on the tree and nutcracker, and needle point and one year everything was needle pointed. >> alisyn: and laura bush. >> one of my favorites, so elegant and timeless, she did a red white and blue christmas for their last christmas in office and borrowed her mother-in-law's theme and a story book christmas, she was a librarian. >> alisyn: and the theme was home for the holidays. >> that applies to everyone. >> alisyn: in 2001, home for the holidays right after 9/11, the theme. the theme was picked prior to 9/11, but that year made it even more special and we
city subway train on thursday told them she did so because she hates hindus and muslims. her victim was an immigrant from india. doctors in houston report former president george h.w. bush's condition is improving and that he is no longer in intensive care. mr. bush has been hospitalized since last month with a bronchitis-related cough. this week marks the 150th anniversary of the emancipation proclamation, the document deciding that all slaves were to be forever free. to mark the occasion the document signed by president abraham lincoln goes on display in the national archives in washington. now the weather. the chance of rain in the northeast but it will be sunny in the central plains and the southwest. scattered showers in the pacific northwest. the first few days of 2013 will see colder temperatures across most of the country. >> nothing bad. osgood: ahead, meet jamie foxx. >> i had a neighborhood. everybody was going to chump. it was cool. if somebody pulled a gun, they >> osgood: natural gas is cheap and plentiful and could supply us with energy for decades to come. but to get
a battle with pneumonia. >>> meantime, a top aide for president bush, says her boss won't be leaving the hospital anytime soon. he is in the hospital with complications from bronchitis. but she says the 88-year-old mr. bush would advise to put the harps back in the closet. >>> and secretary of state hillary clinton will return to work next week. she hasn't been seen in public since suffering a concussion about two weeks ago after a fainting spell brought on by a stomach bug. >>> and the fiscal cliff in washington isn't the only major threat to the u.s. economy. this morning, time is running out to avoid a strike by 14,000 dockworkers from boston to houston for demanding better pay. 14 ports that handle half of the nation's shipping traffic are threatened. workers could walk off the job this sunday, costing the economy an estimated $1 billion per day. >>> and for the second time this month, someone has been pushed to their death on a new york subway. a woman seen running away on the left side of this surveillance video, right here, shoved a man on to the tracks last night. he was then
susan rice took her name out, every day we would see kerry in the subway that runs underneath here or the elevator saying, hi, mr. secretary, congratulations. he would say not yet, not yet. so he's kind of been in an odd waiting game, waiting for the official news, and even this morning my understanding is his senate office didn't know officially this was going to come today. so there definitely has been -- there's a feeling this is a long time coming for senator kerry, and that's why for a number of reasons it's pretty clear that he's going to be confirmed. >> he canning loud and proud now. dana bash reporting live from capitol hill. thanks so much. >>> also happening now in washington, lawmakers are saying good-bye to hawaii senator daniel inouye. there's a special memorial service. the senate chaplain will deliver a sermon and you see president obama wiping tears from his eyes. he was the second longest serving senator in history. he served hawaii since 1959. that's where president obama grew up so he's well familiar with daniel inouye. he was awarded medal of honor after losing
in their homes, it will be a lot more beneficial. >> mr. fugate, when you and the president went to atlantic city the runner of the marine now got a hug from the president and president introduced her to you. they said they do not help businesses. she got a lower rate for a loan from community bank and she thought she was used as a font of -- a photo op. >> the tool we use is the small business administration and these loan programs. that's what we have available. >> with legislation and waiting to change that? secretary donovan says they want to make businesses whole. >> la businesses are the biggest challenge. the tool that is is readily available are the small business disaster loans. for those without insurance, and as always meet the needs. one of the biggest losses we see in a disaster is a small business. oftentimes they have very high failure rates. part of what we're looking at it and knowing about it will not address all of these issues. how'd we put money back into the local economy quicker? where can you bring in additional resources to help small businesses as they deal with not only
than $3 billion positive balance. those were aggressive steps that she took. i listened to her but she took those. and i believe that that's the kind of leadership that can help us continue down this path. >> thank you. senator hagen. >> thank you, mr. chairman. and, mr. secretary, thanks for your testimony today. i know that senator corker asked about reverse mortgages. and i am concerned about that issue and i'm particularly concerned that $2.8 billion of the $16 billion economic shortfall are related to that program. can you talk a little bit more about why these losses under the reverse mortgage program are so is he rear? >> here's the fundamental problem. without getting into too much of the history. at one point when fannie mae was issuing these loans, they were generally variable rate and they could -- they allowed a borrower to basically draw on a, you know, over time, the amount of money that they needed. as that program has switched to being a ginny may program, there is basically no option for those borrowers to do anything but draw the full amount. >> and why? >> because we
to her, and i believe that is the kind of leadership to help us continue down this path. >> thank you. senator? >> thank you. thank you for your testimony today mr. secretary. i know the senator asked about reverse mortgages. i am concerned about that issue. i am particularly concerned that $2.80 billion of the $16 billion economic shortfall are related. can you talk a little more about why these losses are so severe? >> here is the fundamental problem, without getting into yoo-hoo t -- into too much detail. the loans were generally variable rate and allowed the bar were -- borrower. there is basically no option for them to do anything but draw the full amount. >> why? >> we do not have the statutory authority to be able to make the changes to the program to allow us to limit the draw up front. that is the change we are asking to be made. our alternative, and i was just discussing this, we could basically eliminate or put a moratorium on our regular program, which is somewhat safer. the problem is we do not have that authority under that program to avoid the full-draw feature of it. t
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